[OPE-L:3523] Re: Productive and Unproductive Labour

Paul Cockshott (wpc@cs.strath.ac.uk)
Fri, 25 Oct 1996 04:35:13 -0700 (PDT)

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>So, unlike Andrew's argument that "if
>one is dealing with three categories only, C, V, and S, then _faux frais_
>are part of C," if I'm given the same three choices, I'd say that Marx
>views the faux frais as "part" of S. How do others view this?

I have always followed Gillman and used at least 4 categories c,v,s,and u
for unproductive wages.

When dealing with real figures one has to introduce K for the capital
stock as well.

The rate of profit is then well approximated by

s - u

since, given the fact that workers are paid either weekly or monthly, the
stock of variable capital is at any one momement small v can be ignored.

One point that I am uncertain about, and have for different time series adopted
different approaches is whether k should include the buildings and equipment
of the banking sector. It is not clear how such stocks would influence the
general rate of profit.
Paul Cockshott